Central Bank Act, 1989.

Amendment of section 7 of Act of 1971.

30.—Section 7 of the Act of 1971 is hereby amended by the substitution of the following subsection for subsection (4):

“(4) (a) Subsection (1) of this section shall not apply in relation to—

(i) the central banks in the other states that are members of the European Communities,

(ii) the Agricultural Credit Corporation public limited company, the company formed and registered by virtue of section 2 of the Industrial Credit Act, 1933 , the Post Office Savings Bank, a trustee savings bank certified under the Trustee Savings Banks Acts, 1863 to 1979, or

(iii) a building society, an industrial and provident society, a friendly society, a credit union or the manager or trustee under a unit trust or collective investment scheme in respect of the carrying on of the business of the scheme.

(b) Where the Minister is of the opinion that it is in the interest of the orderly and proper regulation of banking or of any other financial market he may, after consultation with the Bank and with such Minister of the Government or other persons as he may consider appropriate to so consult in the circumstances, by order amend paragraph (a) (ii) so as to add thereto any body or category of persons or to delete therefrom any body or category of persons mentioned therein for the time being.”.